In 2015, I just entered the crypto world, my eyes only on the myth of overnight wealth. A friend said a certain coin had multiplied ten times, and I immediately invested all my savings. The next day, it dropped by 30%, and I spent the whole night staring at the screen, my palms sweaty.
In the first five years, I tried all the "get-rich-quick" methods: chasing highs and cutting losses, trusting insider information, playing with high leverage, and even borrowing money to increase my position. At my worst, the 200,000 I had set aside to buy a house dwindled to just over 10,000. My wife went back to her parents' house, and I sat on the floor, smoking one cigarette after another.
A turning point came one late night. Bitcoin plummeted from 60,000 to 30,000, and the altcoins I held were nearly worthless. In that moment, I suddenly became clear: there are no myths in the crypto world, only awareness and discipline.
I printed out five years of trading records and spread them across the living room. Profitable trades followed three principles: trade with the trend, manage position sizes, and decisively cut losses. The losing trades all violated these principles.
So I set strict rules: only use spare money, single trade losses should not exceed 2% of total capital, and avoid projects I don’t understand. Simple rules, but executing them requires overcoming greed.
Last year, during market fluctuations, a friend suffered heavy losses from holding onto positions, while I preserved my capital through strict stop-loss measures. When the market warmed up, I had enough funds to seize opportunities and achieved stable returns.
Now, I spend a small amount of time each day watching the market, and the rest of my time working and spending time with family. The crypto world is just a part of asset allocation; I no longer pursue overnight wealth but focus more on long-term stable returns.
The world is never short of opportunities; what it lacks is patience and discipline. Those who survive long-term have all experienced a shift in mindset from seeking wealth to seeking stability. The path of investment is ultimately about cultivating one’s mindset.
I used to stumble in the dark, but now the light is in my hands.
